Insmed Inc Financials

INSM

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Key Financial Metrics

Revenue

$363.7M

YoY+19.2%

5Y CAGR+21.7%

Insmed Inc generated $363.7M in revenue in fiscal year 2024. This represents an increase of 19.2% from the prior year.

EBITDA

-$864.5M

YoY-24.2%

Insmed Inc's EBITDA was -$864.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.2% from the prior year.

Free Cash Flow

-$705.8M

YoY-28.4%

Insmed Inc generated -$705.8M in free cash flow in fiscal year 2024, representing cash available after capital expenditures. This represents a decrease of 28.4% from the prior year.

Net Income

-$913.8M

YoY-21.9%

Insmed Inc reported -$913.8M in net income in fiscal year 2024. This represents a decrease of 21.9% from the prior year.

EPS (Diluted)

$-5.57

YoY-4.3%

Insmed Inc earned $-5.57 per diluted share in fiscal year 2024. This represents a decrease of 4.3% from the prior year.

Cash & Debt

$555.0M

YoY+15.1%

5Y CAGR+2.6%

10Y CAGR+13.3%

Insmed Inc held $555.0M in cash against $1.1B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

179M

YoY+21.2%

5Y CAGR+14.9%

10Y CAGR+13.7%

Insmed Inc had 179M shares outstanding in fiscal year 2024. This represents an increase of 21.2% from the prior year.

Gross Margin

76.4%

YoY-2.1pp

5Y CAGR-5.8pp

Insmed Inc's gross margin was 76.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the prior year.

Operating Margin

-241.5%

YoY-9.0pp

5Y CAGR-69.1pp

Insmed Inc's operating margin was -241.5% in fiscal year 2024, reflecting core business profitability. This is down 9.0 percentage points from the prior year.

Net Margin

-251.2%

YoY-5.6pp

5Y CAGR-64.9pp

Insmed Inc's net profit margin was -251.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 5.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$598.4M

YoY+4.8%

5Y CAGR+35.4%

10Y CAGR+26.7%

Insmed Inc invested $598.4M in research and development in fiscal year 2024. This represents an increase of 4.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$21.9M

YoY+65.0%

5Y CAGR-12.3%

10Y CAGR+15.1%

Insmed Inc invested $21.9M in capital expenditures in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 65.0% from the prior year.

INSM Income Statement

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Revenue	$363.7M+19.2%	$305.2M+24.4%	$245.4M+30.2%	$188.5M+14.6%	$164.4M+20.5%	$136.5M
Cost of Revenue	$85.7M+30.8%	$65.6M+19.0%	$55.1M+24.9%	$44.2M+10.7%	$39.9M+64.7%	$24.2M
Gross Profit	$278.0M+16.0%	$239.6M+26.0%	$190.2M+31.8%	$144.3M+15.9%	$124.5M+10.9%	$112.3M
R&D Expenses	$598.4M+4.8%	$571.0M+43.6%	$397.5M+45.7%	$272.7M+50.6%	$181.2M+37.5%	$131.7M
SG&A Expenses	$461.1M+33.9%	$344.5M+29.6%	$265.8M+13.5%	$234.3M+15.1%	$203.6M-3.4%	$210.8M
Operating Income	-$878.3M-23.8%	-$709.6M-55.2%	-$457.3M-21.9%	-$375.1M-41.4%	-$265.2M-12.7%	-$235.2M
Interest Expense	$84.9M+3.9%	$81.7M+208.9%	$26.4M-34.7%	$40.5M+36.9%	$29.6M+6.7%	$27.7M
Income Tax	$3.7M+45.1%	$2.6M+84.7%	$1.4M+178.7%	-$1.8M-225.4%	$1.4M+80.4%	$777K
Net Income	-$913.8M-21.9%	-$749.6M-55.7%	-$481.5M-10.8%	-$434.7M-47.8%	-$294.1M-15.6%	-$254.3M
EPS (Diluted)	$-5.57-4.3%	$-5.34-36.6%	$-3.91-0.8%	$-3.88-28.9%	$-3.010.0%	$-3.01

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$142.3M+32.5%	$107.4M+15.7%	$92.8M	N/A	$93.4M+3.4%	$90.3M+19.7%	$75.5M	N/A
Cost of Revenue	$29.4M+4.6%	$28.1M+31.9%	$21.3M	N/A	$21.2M+1.0%	$21.0M+20.1%	$17.5M	N/A
Gross Profit	$113.0M+42.4%	$79.3M+10.9%	$71.5M	N/A	$72.3M+4.1%	$69.4M+19.5%	$58.0M	N/A
R&D Expenses	$186.4M+5.2%	$177.2M+16.1%	$152.6M	N/A	$150.8M+2.8%	$146.7M+21.2%	$121.1M	N/A
SG&A Expenses	$186.4M+20.4%	$154.8M+4.9%	$147.5M	N/A	$118.9M+11.6%	$106.6M+14.5%	$93.1M	N/A
Operating Income	-$366.0M-17.0%	-$312.9M-26.1%	-$248.1M	N/A	-$213.4M+26.1%	-$288.9M-98.6%	-$145.5M	N/A
Interest Expense	$20.4M-4.1%	$21.2M-1.5%	$21.6M	N/A	$21.1M-1.0%	$21.3M+1.1%	$21.0M	N/A
Income Tax	$1.3M+6.2%	$1.2M+36.3%	$912K	N/A	$1.0M+21.0%	$838K+42.3%	$589K	N/A
Net Income	-$370.0M-15.0%	-$321.7M-25.4%	-$256.6M	N/A	-$220.5M+26.6%	-$300.6M-91.4%	-$157.1M	N/A
EPS (Diluted)	$-1.75-2.9%	$-1.70-19.7%	$-1.42	N/A	$-1.27+34.5%	$-1.94-83.0%	$-1.06	N/A

INSM Balance Sheet

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Total Assets	$2.0B+52.3%	$1.3B-19.7%	$1.7B+33.2%	$1.2B+56.2%	$796.2M+7.3%	$742.3M
Current Assets	$1.6B+74.5%	$929.1M-27.0%	$1.3B+52.1%	$837.0M+34.4%	$622.9M+12.2%	$555.2M
Cash & Equivalents	$555.0M+15.1%	$482.4M-55.1%	$1.1B+49.8%	$716.8M+34.5%	$532.8M+9.3%	$487.4M
Inventory	$98.6M+18.4%	$83.2M+19.1%	$69.9M+4.3%	$67.0M+35.1%	$49.6M+75.2%	$28.3M
Accounts Receivable	$52.0M+26.3%	$41.2M+38.6%	$29.7M+22.0%	$24.4M+47.0%	$16.6M-13.9%	$19.2M
Goodwill	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M	$0	N/A
Total Liabilities	$1.7B+4.7%	$1.7B+5.9%	$1.6B+88.3%	$833.0M+60.1%	$520.3M+8.2%	$480.6M
Current Liabilities	$297.5M+31.9%	$225.6M+18.6%	$190.2M+40.7%	$135.2M+13.8%	$118.8M+39.4%	$85.2M
Long-Term Debt	$1.1B-4.5%	$1.2B+2.7%	$1.1B+98.6%	$566.6M+59.0%	$356.3M+6.1%	$335.9M
Total Equity	$285.4M+186.0%	-$331.9M-477.4%	$88.0M-78.6%	$410.5M+48.8%	$275.9M+5.4%	$261.7M
Retained Earnings	-$4.4B-26.5%	-$3.4B-27.8%	-$2.7B-19.0%	-$2.3B-23.7%	-$1.8B-19.1%	-$1.5B

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$2.4B-4.8%	$2.5B+37.6%	$1.8B-11.0%	$2.0B-1.4%	$2.1B+13.4%	$1.8B+56.2%	$1.2B-12.8%	$1.3B
Current Assets	$1.9B-7.2%	$2.1B+48.4%	$1.4B-13.5%	$1.6B-1.7%	$1.6B+16.3%	$1.4B+86.9%	$758.7M-18.3%	$929.1M
Cash & Equivalents	$334.8M-73.9%	$1.3B+218.5%	$403.2M-27.3%	$555.0M+20.3%	$461.5M-63.0%	$1.2B+109.3%	$595.7M+23.5%	$482.4M
Inventory	$121.0M+12.4%	$107.6M+6.8%	$100.7M+2.2%	$98.6M+0.1%	$98.5M+9.3%	$90.1M+8.6%	$83.0M-0.3%	$83.2M
Accounts Receivable	$65.3M+18.6%	$55.0M+15.3%	$47.7M-8.2%	$52.0M+22.9%	$42.3M+5.0%	$40.3M+8.4%	$37.2M-9.8%	$41.2M
Goodwill	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M0.0%	$136.1M
Total Liabilities	$1.4B+15.0%	$1.2B-27.8%	$1.7B-2.1%	$1.7B+10.8%	$1.6B-11.4%	$1.8B+9.1%	$1.6B-2.3%	$1.7B
Current Liabilities	$417.2M+33.9%	$311.7M+30.3%	$239.2M-19.6%	$297.5M+14.8%	$259.2M-50.6%	$524.2M+24.5%	$420.9M+86.5%	$225.6M
Long-Term Debt	$539.7M+0.2%	$538.5M-51.3%	$1.1B+0.2%	$1.1B+15.6%	$954.8M+0.8%	$946.8M+0.8%	$939.1M-18.7%	$1.2B
Total Equity	$945.6M-24.3%	$1.2B+1160.3%	$99.2M-65.3%	$285.4M-41.0%	$483.4M+1145.3%	$38.8M+108.4%	-$464.8M-40.0%	-$331.9M
Retained Earnings	-$5.3B-7.5%	-$4.9B-7.0%	-$4.6B-5.9%	-$4.4B-5.7%	-$4.1B-5.6%	-$3.9B-8.3%	-$3.6B-4.6%	-$3.4B

INSM Cash Flow Statement

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Operating Cash Flow	-$683.9M-27.5%	-$536.2M-33.9%	-$400.4M-10.2%	-$363.3M-65.6%	-$219.3M+12.5%	-$250.6M
Capital Expenditures	$21.9M+65.0%	$13.3M+34.5%	$9.9M+35.5%	$7.3M+16.8%	$6.2M-85.2%	$42.3M
Free Cash Flow	-$705.8M-28.4%	-$549.5M-33.9%	-$410.3M-10.7%	-$370.6M-64.3%	-$225.6M+23.0%	-$292.9M
Investing Cash Flow	-$583.2M-160.8%	-$223.6M-546.6%	-$34.6M+46.2%	-$64.3M-842.3%	-$6.8M+83.9%	-$42.3M
Financing Cash Flow	$1.3B+696.1%	$168.4M-78.8%	$793.3M+29.5%	$612.5M+126.0%	$271.0M-5.0%	$285.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	-$262.1M	N/A	N/A	N/A	-$184.0M	N/A
Capital Expenditures	N/A	N/A	$10.1M	N/A	N/A	N/A	$4.7M	N/A
Free Cash Flow	N/A	N/A	-$272.2M	N/A	N/A	N/A	-$188.7M	N/A
Investing Cash Flow	N/A	N/A	$80.4M	N/A	N/A	N/A	$295.3M	N/A
Financing Cash Flow	N/A	N/A	$29.0M	N/A	N/A	N/A	$3.0M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

INSM Financial Ratios

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Gross Margin	76.4%-2.1pp	78.5%+1.0pp	77.5%+1.0pp	76.6%+0.8pp	75.8%-6.5pp	82.3%
Operating Margin	-241.5%-9.0pp	-232.5%-46.1pp	-186.4%+12.6pp	-199.0%-37.7pp	-161.3%+11.1pp	-172.4%
Net Margin	-251.2%-5.6pp	-245.6%-49.3pp	-196.3%+34.4pp	-230.6%-51.8pp	-178.9%+7.5pp	-186.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-45.1%+11.2pp	-56.4%-27.3pp	-29.1%+5.9pp	-34.9%+2.0pp	-36.9%-2.7pp	-34.3%
Current Ratio	5.45+1.3	4.12-2.6	6.69+0.5	6.19+0.9	5.24-1.3	6.51
Debt-to-Equity	3.87+7.3	-3.48-16.3	12.79+11.4	1.38+0.1	1.290.0	1.28
FCF Margin	-194.1%-14.0pp	-180.1%-12.8pp	-167.2%+29.4pp	-196.6%-59.4pp	-137.2%+77.4pp	-214.6%

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	79.4%+5.5pp	73.9%-3.2pp	77.1%	N/A	77.3%+0.5pp	76.8%-0.1pp	76.9%	N/A
Operating Margin	-257.1%+34.1pp	-291.3%-24.0pp	-267.3%	N/A	-228.4%+91.3pp	-319.8%-127.1pp	-192.7%	N/A
Net Margin	-259.9%+39.5pp	-299.5%-23.1pp	-276.4%	N/A	-236.0%+96.7pp	-332.8%-124.7pp	-208.1%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-15.7%-2.7pp	-13.0%+1.3pp	-14.2%	N/A	-10.7%+5.9pp	-16.6%-3.1pp	-13.6%	N/A
Current Ratio	4.63-2.0	6.68+0.8	5.86+0.4	5.45-0.9	6.37+3.7	2.71+0.9	1.80-2.3	4.12
Debt-to-Equity	0.57+0.1	0.43-10.7	11.14+7.3	3.87+1.9	1.98-22.4	24.39+26.4	-2.02+1.5	-3.48
FCF Margin	N/A	N/A	-293.2%	N/A	N/A	N/A	-249.9%	N/A

Frequently Asked Questions

What is Insmed Inc's annual revenue?

Insmed Inc (INSM) reported $363.7M in revenue for fiscal year 2024.

How fast is Insmed Inc's revenue growing?

Insmed Inc (INSM) revenue grew by 19.2% year-over-year, from $305.2M to $363.7M in fiscal year 2024.

Is Insmed Inc profitable?

No, Insmed Inc (INSM) reported a net income of -$913.8M in fiscal year 2024, with a net profit margin of -251.2%.

What is Insmed Inc's earnings per share (EPS)?

Insmed Inc (INSM) reported diluted earnings per share of $-5.57 for fiscal year 2024.

What is Insmed Inc's EBITDA?

Insmed Inc (INSM) had EBITDA of -$864.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Insmed Inc have?

As of fiscal year 2024, Insmed Inc (INSM) had $555.0M in cash and equivalents against $1.1B in long-term debt.

What is Insmed Inc's gross margin?

Insmed Inc (INSM) had a gross margin of 76.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Insmed Inc's operating margin?

Insmed Inc (INSM) had an operating margin of -241.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Insmed Inc's net profit margin?

Insmed Inc (INSM) had a net profit margin of -251.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Insmed Inc's free cash flow?

Insmed Inc (INSM) generated -$705.8M in free cash flow during fiscal year 2024, representing cash available after capital expenditures.

What is Insmed Inc's operating cash flow?

Insmed Inc (INSM) generated -$683.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Insmed Inc's total assets?

Insmed Inc (INSM) had $2.0B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Insmed Inc's capital expenditures?

Insmed Inc (INSM) invested $21.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Insmed Inc spend on research and development?

Insmed Inc (INSM) invested $598.4M in research and development during fiscal year 2024.

How many shares does Insmed Inc have outstanding?

Insmed Inc (INSM) had 179M shares outstanding as of fiscal year 2024.

What is Insmed Inc's current ratio?

Insmed Inc (INSM) had a current ratio of 5.45 as of fiscal year 2024, which is generally considered healthy.

What is Insmed Inc's debt-to-equity ratio?

Insmed Inc (INSM) had a debt-to-equity ratio of 3.87 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Insmed Inc's return on assets (ROA)?

Insmed Inc (INSM) had a return on assets of -45.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.